(a) The Employee Health Benefits Plan Insurance Risk Management Committee shall have the authority to review the activities undertaken through the fund by those City Plan Administrators who manage it to investigate the adequacy of the fund to meet its obligations, and to adjust either the level of benefits paid under the Plan or the amount of employee contributions to the Plan as agreed to in the respective collective bargaining agreements.
(b) The City shall provide the Committee with all cost and experience data it has available. In determining the projected cost of the program each year, the Committee shall consider the experience of the fund and may project the cost using the experience plus an inflation factor to be determined by the Committee.
(c) Effective September 1, 1989, the City Planning Administrators shall be the Buckeye Ohio Risk Management Association (BORMA).
(d) The Committee may recommend to the City any of the following:
(1) If cost, experience and other relevant data show a surplus in the fund, as verified by the City's actuary, that benefit levels be increased or employee contributions be reduced or a combination of both, in amounts warranted by the surplus;
(2) If cost, experience and other relevant data show rates of contribution are inadequate to support existing benefits, that benefit levels be reduced or employee contributions increased or a combination of both, as necessary to insure the adequacy of the funds; or
(3) The Committee shall be authorized to apply the excess funds in the Trust Account to increase in costs from the City Plan Administrators.
(Ord. 89-131. Passed 8-28-89.)